The Chief Executive Officer of the Ghana Chamber of Mines, Ken Ashigbey, says Ghana is richly endowed with significant untapped gold resources, with large deposits remaining largely unexplored across the country.

He disclosed that Ghana has about seven gold belts, many of which remain underdeveloped, representing what he described as a major national economic opportunity.

Speaking during a JoyBusiness Roundtable discussion on the theme “To Nationalise or Transform? Rethinking Ghana’s Approach to Mining, Oil, and Critical Minerals,” Mr Ashigbey stressed the need to shift attention towards exploration and investment rather than focusing solely on debates about nationalisation.

He noted that Ghana’s mining future depends heavily on exploration activities, which form the foundation of the entire mining value chain.

“Currently, as we sit, Ghana has about seven gold belts and about three trillion ounces of gold that is not developed,” he said.

Mr Ashigbey explained that much of Ghana’s current gold production is based on exploration work carried out over a decade ago, warning that insufficient new exploration could threaten future output.

“The precursor for mining, which is exploration, is the critical thing. A lot of what we are mining today is based on exploration we did over 15 years ago. So what is going to be the basis of our mining going forward?” he questioned.

He expressed concern over what he described as declining exploration activity in the country, describing the situation as “not impressive” and calling for urgent intervention.

According to him, the high cost of exploration remains a major barrier, requiring sustained investment from both the state and private sector players.

Mr Ashigbey further urged greater Ghanaian participation in funding exploration activities, stressing that without renewed investment in the sector, the long-term outlook of the mining industry could be weakened despite the country’s vast mineral wealth.